BOSTON – A street artist famous for his red, white and blue “Hope” posters of President Obama has been arrested on warrants accusing him of tagging property with graffiti, police said Saturday.

Shepard Fairey was arrested Friday night on his way to the Institute of Contemporary Art for a kickoff event for his first solo exhibition, called “Supply and Demand.”

Two warrants were issued for Fairey on Jan. 24 after police determined he’d tagged property in two locations with graffiti based on the Andre the Giant street art campaign from his early career, Officer James Kenneally said. One of the locations was the railroad trestle by the landmark Boston University bridge over the Charles River, police said.